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Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal companies through Vallar Plc, allowing the nation’s biggest producer of the fuel to list in London.
Bloomberg further reported, Vallar will buy 75 percent of PT Berau Coal Energy and 25 percent of PT Bakrie & Brothers’ PT Bumi Resources in a cash and stock transaction, the company said today in a statement. Bakrie Group will be the largest combined shareholder in Vallar -- to be renamed Bumi Plc -- and have the right to nominate the chairman, chief executive officer and chief financial officer.
The reverse takeover, which gives control to the holders of the acquired company, will create an Indonesian “resources champion,” combining the nation’s largest coal producer, Bumi, and fifth-largest, Berau, according to Vallar. Rothschild, former co-president of New York hedge-fund firm Atticus Capital LLC, raised 707.2 million pounds ($1.13 billion) in Vallar’s initial public offering in London in July and had considered deals of as much as $5 billion.
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“This acquisition should be well received by investors since this is a good price for high-quality coal assets,” Liberum Capital analysts wrote in a report. “A London-listed, large scale, pure play Indonesian coal play should offer a unique commodity exposure and have strong investment appeal.”
Bumi Plc will target coal output of 140 million metric tons a year and be the largest thermal-coal supplier to China, Rothschild said on a conference call.
Mandatory Offer
Vallar, whose London-traded shares were suspended today, plans to make a mandatory offer to Berau’s minority shareholders and increase its ownership in Bumi in 2011, it said. Bakrie Group will hold 43 percent of Vallar stock after the deal.
The planned London listing, the first for an Indonesian company, “will enhance our international profile, provide a currency and platform for development in the region and put us in a much stronger position to build on the organic growth that our combined assets already provide,” Indra Bakrie, proposed chairman of Jersey, Channel Islands-based Vallar, said in the statement.
The “remarkable” deal is a “win-win” for shareholders, said Rothschild, who in April ranked seventh in the Sunday Times “Rich List,” an annual estimate of net worth of the 25 wealthiest U.K.-based hedge-fund managers.
Bumi Production
Indonesia is Asia’s biggest exporter of thermal coal, used in power stations. Bumi Resources, the country’s largest coal miner by volume with a market value of 54 trillion rupiah ($6 billion), produced 60 million tons and sold 58 million tons of the fuel last year.
The Jakarta-based company is a unit of Bakrie & Brothers, an investment company controlled by the family of billionaire and politician Aburizal Bakrie, Indonesia’s fourth-richest man, according to Forbes Asia. Sovereign wealth fund China Investment Corp. bought $1.9 billion of debt from Bumi in September 2009.
Bumi shares reversed losses after today’s announcement, rising 2 percent to 2,600 rupiah at 3:40 p.m. Jakarta time. The stock has climbed 7.2 percent this year, compared with a 44 percent gain in the benchmark Jakarta Composite Index.
Berau, with a market value of 18.2 trillion rupiah, is 75 percent owned by PT Bukit Mutiara, a unit of PT Recapital Advisors. Bukit Mutiara will retain 15.3 percent after the sale, Berau said in a statement.
Berau expects to produce 17.9 million tons of coal this year, rising to as much as 22 million tons by 2012, President Director Rosan Roeslani said Aug. 19. The Jakarta-based company raised $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
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- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
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